Introduced
by
To exempt from state income tax up to $10,000 contributed to or earned by the home buyer savings account proposed by Senate Bill 511.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 37 to 1 (details)
To exempt from state income tax up to $5,000, and $10,000 on joint returns, contributed to or earned by a specialty savings account that the bill would authorize for the purpose of making a home purchase. Up to $50,000 worth of income could be exempted from taxation by an account owner over time.
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
by
To replace the previous version of the bill with one that revises details but does not change the substance as previously described.
The substitute passed by voice vote
Passed in the House 89 to 20 (details)
To exempt from state income tax up to $5,000, and $10,000 on joint returns, contributed to or earned by a specialty savings account that the bill would authorize for the purpose of making a home purchase. Up to $50,000 worth of income could be exempted from taxation by an account owner over time.
Passed in the Senate 36 to 0 (details)
To concur with the House-passed version of the bill.
